Data from the National Bureau of Statistics show the average price paid by consumers for premium motor spirit (petrol) increased by 1.3% year-on-year and 0.2% month-on-month to N147.50 in November 2018 from N147.20 in October 2018.
States with the highest and lowest average price
Kebbi State had the highest average petrol price at N158.24. Kaduna was next at N156.75 and Taraba rounds up the highest three at N155.46.
Jigawa state had the lowest average petrol price in the country at N144.29. Sokoto state was next at N144.20 and Imo state at N142.50.
Regional comparison
In a comparison of prices across the six regions of the country, the Southwest had the lowest average fuel price in the country at N145.15. This perhaps could be due to the proximity of ports facilities from where the products are moved across the country.
The north east on the other hand, had the highest average fuel price in the country at N151.28. This could be due to it being the furthest from port facilities in the country.
Intraregional price compared
In the northwest, Sokoto had the lowest petrol price at N144.20, while Kaduna had the highest price at N156.75.
In the northeast, Taraba had the highest pump price at N155.46, while Bauchi had the lowest price at N144.46.
In the north-central axis, Benue had the highest price at N150.43, while Abuja had the lowest price at N144.40
For the Southwest region, Ekiti had the highest price at N145.47, while Oyo State had the lowest price at N144.89.
In the South-South region, Cross river had the highest price at N147.55, while Akwa Ibom had the lowest price at N144.55.
In the South East region, Abia had the highest pump price at N150.67. Anambra, on the other hand, had the lowest price at N145.
What other factors apart from ports proximity affect the retail price of PMS in the country?
The distance. The further the distance, the more expensive it will be.